The GBPUSD has not been pulling back so we are going to try an alternative entry, the Break Out! If price closes above the Box then a long trade will be opened, with 1.55 as the target. The stop is the bottom of the Box, a place where it would be fair to say the trend line has been broken. The maximum ‘spike’ level has been set at 20 pips, to avoid a price spike out that then reverses.
Trading The Box 